German distressed market grows as culture changes

Newswire

By Elena Moya LONDON, Sept 22 (Reuters) - Germany's 160 billion-euro non-performing loan market will grow and remain Europe's most attractive as cash-rich hedge funds, banks and buyout firms line up to take control of the country's struggling mid-sized companies, market participants say. Businesses such as auto-parts makers Kiekert and Schefenacker have seen their profits fall and are now negotiating debt-for-equity swaps with hedge funds, investment banks and private equity firms, which ...

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